Harvest Fund Management Co. Ltd Sells 1,950 Shares of SPX Technologies, Inc. (NYSE:SPXC)

Harvest Fund Management Co. Ltd lessened its stake in SPX Technologies, Inc. (NYSE:SPXC - Free Report) by 42.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,630 shares of the company's stock after selling 1,950 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in SPX Technologies were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPXC. Xponance Inc. lifted its stake in SPX Technologies by 12.0% in the fourth quarter. Xponance Inc. now owns 3,309 shares of the company's stock valued at $482,000 after acquiring an additional 355 shares during the last quarter. Signaturefd LLC lifted its stake in SPX Technologies by 15.9% in the 4th quarter. Signaturefd LLC now owns 628 shares of the company's stock valued at $91,000 after purchasing an additional 86 shares during the last quarter. Cibc World Markets Corp bought a new position in SPX Technologies during the fourth quarter worth about $613,000. Envestnet Portfolio Solutions Inc. increased its position in SPX Technologies by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,342 shares of the company's stock worth $632,000 after buying an additional 68 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in SPX Technologies by 10.3% in the fourth quarter. Natixis Advisors LLC now owns 24,468 shares of the company's stock valued at $3,561,000 after buying an additional 2,276 shares during the period. 92.82% of the stock is owned by institutional investors.

SPX Technologies Stock Performance

NYSE SPXC traded down $3.33 on Wednesday, reaching $136.18. The stock had a trading volume of 143,633 shares, compared to its average volume of 308,762. SPX Technologies, Inc. has a 1-year low of $116.05 and a 1-year high of $183.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 1.19. The company has a market cap of $6.32 billion, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. The firm has a fifty day moving average of $144.18 and a two-hundred day moving average of $153.33.

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Wall Street Analysts Forecast Growth

SPXC has been the subject of several research analyst reports. UBS Group reduced their target price on SPX Technologies from $164.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Oppenheimer upgraded shares of SPX Technologies from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a report on Wednesday, February 26th. Finally, Sidoti upgraded shares of SPX Technologies from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $174.75.

About SPX Technologies

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.